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Ignorance means risks: What revenue management means for today’s hotels and the costs of neglecting it

SiteMinder

With rising costs, evolving guest behaviours and the varying types of accommodation businesses that have emerged, revenue management now means different things to different properties. I define revenue management as a way for accommodation properties to earn more,” says De Ponga.

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Busting Today’s Hotel Distribution Myths

Hotel Speak

Hotels have worked with third parties such as airlines, travel agents, online travel agents (OTAs) and the Global Distribution System (GDS) for decades. While the OTA owns the customer in the first instance, hotels can put in place systems to win over the customer and earn more revenue from each guest’s stay.

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Report: Independent hotels see record-breaking occupancy

Hotel Business

The data covers key hotel performance indicators such as occupancy, RevPAR, booking lead time, length of stay, international and domestic travel, direct and OTA bookings, as well as upsell performance to forecast trends shaping the hotel industry in 2023. Hotels are generating better revenue.

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Your Most Profitable Path: Direct Bookings and What You’re Missing

STAAH

With 60% of visitors to Online Travel Agencies (OTAs) eventually checking out your website, the opportunity to secure commission-free direct bookings is substantial. Cost Savings: OTAs are marketing powerhouses, but they come at a cost. What Makes an Internet Booking Engine So Precious? How do you do this?

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7 Hotel Revenue Management Trends & Innovations of 2024

STAAH

From online travel agencies (OTAs) to direct booking engine , hotels must effectively manage distribution channels to maximize revenue and minimize distribution costs. Hotel Revenue Management using Omnichannel Data In today’s interconnected world, harnessing omnichannel data is essential for optimizing revenue management strategies.

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8 Essential Reasons to Optimize Your Hotel’s Booking Engine

STAAH

A hotel booking engine is a crucial tool for hotels and accommodation providers in today’s time. If you are a smart hotelier or any type of accommodation provider, you would not want to miss the chance of converting your website visitors from an OTA (or any other source) and bag the commission-free direct bookings.

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Hospitality trends for 2023: what’s in and what’s out?

STAAH

In fact, OTAs such as Expedia have updated their algorithms to give preference to properties that have been called out by guests for their fantastic guest experience. Align your accommodation to meet the needs of everyone in the family – accessibility for seniors, creche or bunk beds for kids, etc. Focus on customer experience.